Traeger (NYSE:COOK) Earns “Outperform” Rating from Telsey Advisory Group

Traeger (NYSE:COOK)‘s stock had its “outperform” rating reiterated by investment analysts at Telsey Advisory Group in a note issued to investors on Friday,Benzinga reports. They presently have a $4.00 target price on the stock. Telsey Advisory Group’s target price suggests a potential upside of 76.21% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on COOK. Piper Sandler boosted their target price on shares of Traeger from $3.50 to $3.75 and gave the company a “neutral” rating in a report on Thursday, November 7th. Royal Bank of Canada lifted their target price on Traeger from $2.50 to $2.75 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group upped their price target on Traeger from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.10.

Traeger Price Performance

Traeger stock opened at $2.27 on Friday. Traeger has a 52 week low of $1.97 and a 52 week high of $3.97. The company’s 50 day moving average price is $2.41 and its two-hundred day moving average price is $2.97. The stock has a market cap of $296.47 million, a P/E ratio of -5.67 and a beta of 1.32. The company has a quick ratio of 1.08, a current ratio of 2.09 and a debt-to-equity ratio of 1.42.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of COOK. Diversify Wealth Management LLC lifted its holdings in shares of Traeger by 5.4% during the 3rd quarter. Diversify Wealth Management LLC now owns 164,547 shares of the company’s stock worth $606,000 after acquiring an additional 8,499 shares during the last quarter. Empowered Funds LLC lifted its position in Traeger by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 145,763 shares of the company’s stock worth $536,000 after buying an additional 7,370 shares during the last quarter. Drive Wealth Management LLC bought a new position in Traeger during the third quarter valued at approximately $118,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Traeger by 724.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 258,058 shares of the company’s stock worth $950,000 after acquiring an additional 226,750 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Traeger in the 3rd quarter worth approximately $50,000. 46.84% of the stock is currently owned by institutional investors.

About Traeger

Traeger, Inc, together with its subsidiaries, designs, sources, sells, and supports wood pellet fueled barbecue grills for retailers, distributors, and direct to consumers in the United States. Its wood pellet grills are internet of things devices that allow owners to program, monitor, and control their grill through its Traeger app.